Amazon is now a $1 trillion company

Amazon.com Inc (AMZN.O) on Tuesday became the second USA company to reach $1 trillion in stock market value, just weeks after Apple Inc (AAPL.O) hit the same milestone on August 2.

He said: "Amazon has now become the second company to reach a trillion dollar valuation, following Apple in August this year". That happened barely a month after Apple crossed that threshold. More than 40 percent said they buy something on Amazon once a month or more often.

Amazon is the second USA company to hit that mark, driven by its continued dominance in the retail world and its highly profitable cloud services business.

In the second quarter the unit accounted for 55 percent of Amazon's operating income and 20 percent of total revenue, according to Morgan. NY time, pushing its market capitalization over the trillion-dollar mark.

Apple started trading in December 1980 but its stock did not truly start to take flight for another 25 years, spurred by the iPhone, the breakthrough device that left competitors in the dust.

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